Paul Street, EC2 – Hotel Scheme
We bought the site out of the previous corporate structure into a new vehicle with the aim of creating a new hotel brand – Pocket Hotel – and redeveloping the site.
A conditional contract was exchanged, subject to planning.
A planning consent was secured for a new 213 bed hotel on the site based on a new city hotel format – Pocket Hotel.
The long-leasehold and freehold interests acquisition was then completed.
Strong interest in the consented scheme enabled us to sell our stake in the business for a significant uplift.